Understanding Business Chapter 7 Reduced
Planning
Management function that includes antcipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.
Operational Planning
Process of setting work standards and schedules necessary to implement company's tactical objectives.
Objectives
Specific, short-term statements detailing how to achieve organization's goals.
Directing
Telling workers what to do to reach goals
Ohio State
Winning by 21 and then lost 34-21 ( actual score 34-27)
Three Leadership Styles
1. Autocratic 2. Participative (Democratic) 3. Free-Rein
Five Things that Leaders Must Be AbleTo Do
1. Communicate vision 2. Set values 3. Promote corporate ethics 4. Embrace change 5. Stress accountability and responsibility
Rational Decision Making 7 D's
1. Define situation 2. Describe and collect information 3. Develop alternatives 4. Develop agreement among those involved 5. Decide which alternative is best 6. Do what is needed 7. Determine if the decision was good and follow-ip
Five Steps in Controlling
1. Establish clear standards 2. Monitor and record performance 3. Compare results against standards 4. Communicate results 5. Corrective actions as needed
Six Points in Mission Statement
1. Organization self-concept 2. Philosophy 3. Long-term survival needs 4. Customer needs 5. Social responsibility 6. Nature of product or service
Four Functions of Management
1. Planning 2. Organizing 3. Leading 4. Controlling
Four Forms of Planning
1. Strategic 2. Tactical 3. Operational 4. Contingency
Three Categories of Skills for Managers
1. Technical 2. HR 3. Conceptual
Four Levels of Management
1. Top 2. Middle 3. Supervisory 4. Non-supervisory
Browns
2nd place in conference and then fell to last but were not defeated
Goals
Broad, long-term accomplishments an organization wishes to attain.
Brainstorming
Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas.
Knowledge Management
Finding right info, keeping info in a readily accessible place, and making info knwon to everyone in firm.
Empowerment
Giving employees the authority to make a decision without consulting the manager and the responsibility to react quickly to customer requests
Internal Customers
Individuals and units within firm that recieve services from other individuals or units.
Participative (Democratic) Leadership
Leadership style that consists of managers and employees working together to make decisions.
Autocratic Leadership
Leadership style that involves making managerial decisions w/out consulting others.
Free-Rein Leadership
Leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.
Middle Management
Level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning and controlling.